Famous and Innovative Entrepreneur Elon musk is the richest person in the world with a net worth estimated at around $416.2 billion. Elon Musk has earned this wealth mainly from famous companies like Tesla, SpaceX, X, and XAI. Musk’s wealth has grown rapidly in recent years. In December 2024 alone, his net worth increased by $91 billion, mainly due to his ambitious company SpaceX’s valuation. Elon Musk’s net worth has seen a spectacular increase as SpaceX’s valuation reaches $350.
Today beyond his entrepreneurial achievements, Musk’s influence has also increase in the US politics. In January 2025, President Donald Trump appointed him as the co-head of the newly established Department of Government Efficiency (DOGE).
Elon Musk is the richest man in the world with $416 billion, in comparison, the world’s second richest man, Amazon founder Jeff Bezos, has a net worth of $249 billion, while the third richest man, Facebook owner Mark Zuckerberg, has a net worth of $224 billion.
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Elon Musk Biography (Birth, Education, Marriage, Family)
Elon Reeve Musk was born on June 28, 1971, in Pretoria, South Africa. His father, Errol Musk, was an electromechanical engineer in South Africa who married May, a Canadian-born model and dietitian. He also has two younger siblings: Kimbal Musk and Tosca Musk. Musk’s parents divorced when he was young and he spent most of his childhood with his father.
At age 17, Musk moved to Canada to study at Queen’s University, later moving to the University of Pennsylvania in the United States. There he earned a bachelor’s degree in physics and economics. In 1995, he briefly pursued a PhD in applied physics at Stanford University, but left after two days to pursue entrepreneurial work in the Internet boom of the late 1990s.
Musk has been married three times:
- Justine Musk (née Wilson): Married in 2000, they had six children together. Their first child, Nevada Alexander Musk, tragically died of sudden infant death syndrome (SIDS) at 10 weeks. They later had twins, Griffin and Vivian, and triplets, Kai, Saxon, and Damian.
- Talulah Riley: Married in 2010, divorced in 2012, remarried in 2013, and divorced again in 2016.
- Grimes (Claire Elise Boucher): In a relationship from 2018 to 2022, they have a son, X Æ A-Xii, born in 2020, and a daughter, Exa Dark Sideræl (Y), born in 2022.
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Elon Musk Net Worth Breakdown (2024-25)
| Income Source | Estimated Earnings (Billions) |
|---|---|
| Tesla (Stock, Salary, Options) | $213.17B |
| SpaceX (Ownership, Contracts) | $147B |
| Neuralink | $5B |
| X (Twitter) | 42.83 |
| The Boring Company | $4B |
| Other Investments | $3B |
| Real Estate & Personal Assets | $1B |
| Total Estimated Net Worth (2024) | $416.2B |
What is the Net Worth of Elon Musk?
At the beginning of January 2025, Elon Musk net worth was around 416 billion USD. Earlier, it was 433 billion USD, but a drop of over 6% in share price of Tesla reduced his wealth by 17.7 billion USD. Even with this loss, Elon Musk is still the richest person in the world.
In December 2024, his wealth had touched $486 billion USD almost close to 500 Billion USD. Over the last year, his net worth has grown significantly, going from $220 billion in January 2024 to $415 billion by January 2025. His 13% stake in Tesla contributes a big part of his massive wealth.
As the owner of SpaceX, Elon Musk’s wealth often goes up and down because of changes in his companies’ values. Despite this recent fall, he remains the wealthiest person in the world. In December 2024, his net worth was close to $500 billion, but it dropped again in January 2025.
Musk owns many big companies like SpaceX, Tesla, Neuralink, XAI, X (formerly Twitter), and The Boring Company, making him one of the most successful entrepreneurs in the world.
Tesla’s Contribution in Elon Musk’s Wealth
Of course, Elon Musk is the richest man in the world today, but his wealth is largely due to the leading electric car manufacturer Tesla. He became a shareholder of Tesla in 2004. As of January 2025, Musk’s net worth is estimated to be around 416 billion USD, a significant portion of which comes from his ownership of about 13% of Tesla’s shares and stock options.
Tesla’s stock performance has contributed significantly to Musk’s wealth. In 2024, Tesla’s stock more than doubled, rising by 62.5% and increasing its market value by 506 billion USD (Current Market Cap 1.36 Trillion USD). Musk’s personal wealth has increased by about $111 billion USD due to the surge in Tesla shares.
In November 2020, about 75% of Elon Musk’s wealth was tied to Tesla stock, a figure that dropped to 37% in December 2022 after he sold about $40 billion in Tesla shares in late 2021. Musk does not take a salary from Tesla. Instead, he entered into an agreement with the board in 2018 that tied his compensation to Tesla’s valuation and revenue milestones.
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The deal, the largest ever between a CEO and board, stipulated that Musk would only be compensated if Tesla achieved specific market benchmarks. In May 2020, under the plan’s first award, Musk became eligible to purchase 1.69 million Tesla shares at a below-market price, worth about $800 million at the time.
SpaceX Contribution in Elon Musk’s Wealth
Aerospace manufacturer and space transportation services company SpaceX was founded by Elon Musk in 2002. By December 2024, SpaceX’s valuation had reached nearly $350 billion after selling private shares. According to Forbes, Musk owns an estimated 42% stake in the SpaceX company, which equates to about $147 billion of his net worth. The company’s growth has been driven by advances in reusable rocket technology, an increasing number of satellite launches, and the expansion of its Starlink internet service. Starlink now serves more than 4 million customers.
The Growth Drivers Behind Elon Musk’s Wealth
Elon Musk’s financial ascent is primarily driven by the remarkable growth of Tesla, the electric vehicle manufacturer. With a market capitalization exceeding $1.36 trillion, Tesla serves as the cornerstone of Musk’s fortune. His substantial stake in SpaceX, a company that has revolutionized the space industry with reusable rockets and ambitious plans for Mars colonization, also significantly contributes to his net worth. Additionally, Musk’s artificial intelligence startup, xAI, valued at $50 billion, aligns with his vision of advancing technology to address global challenges, further cementing his reputation as a visionary entrepreneur.
Elon Musk Career Begining
Elon Musk was born on June 28, 1971 in Pretoria, South Africa. He was very interested in technology and engineering since childhood. At the age of just 12, Musk created a video game called Blaster and later sold it for 500 USD.
Musk later moved from South Africa to the United States to study at the University of Pennsylvania, where he gets degrees in physics and economics. After briefly enrolling at Stanford University to pursue a PhD in applied physics, Musk dropped out after only two days, and instead was drawn to the booming Internet industry in the late 1990s.
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His first major success was Zip2, a software company he co-founded and later sold to Compaq for about $300 million. He then founded X.com, an online payments company, which we know today as PayPal. PayPal was sold to eBay in 2002 for $1.5 billion.
FAQs
Who is the richest person in the world?
Elon Musk is the richest person in the world.
What is the Net Worth of Elon Musk?
Elon Musk’s net worth is more than 416 Billion USD.